You Asked, We Listened.
Enhanced Billing in Actionstep offers a broad range of new features and enhancements to Actionstep’s billing functions, all of which have been developed in direct response to client feedback. The new features are easy to use and add billing functionality and new productivity reports.
Enhanced Billing is automatically enabled for new clients by default. If you would like to upgrade your system, please contact us and we will contact you to discuss the process.
- Fixed Fee Billing
- Mass Billing
- Enhanced Productivity Reports
- Quotes and Fee Estimates
- General Retainer
- Matter-Level Bill Customization
- Flexible Time Entry
- Mark Up and Write Offs
- Matter Billing Activity View
- Track Revenue by Timekeeper
Set and forget it. Fixed-fee billing allows you to setup a fixed-fee arrangement for a matter, then Actionstep will bill that amount automatically.
You can bill the same amount, or schedule bills to be created for different amounts for different dates.
Track time against a fixed fee matter, then run productivity reports to show how much time has been invested, and calculate the effective hourly rate.
Fixed fee billing is automatic, even in mass billing runs. You can customize the bill to show or hide the itemized work.
Actionstep’s streamlined billing process makes it super easy to bill all your clients at once.
You can choose to bill multiple matters by practice area, responsible attorney, or selected matters. Set billing parameters, so only matters with a certain amount of WIP are billed. Fixed fee files can also be included in mass billing. Matter selections for billing can be saved as templates, significantly reducing the time it takes to get your bills out and get paid.
Draft bills can be edited before they go to the review process. Once they are ready to send, you can either print, or automatically email them all at once, or individually.
Enhanced Productivity Reports
New productivity reports have been designed to show strategic and tactical insight into your firm. You can analyze the work, billing and collections across your whole firm, practice area, timekeeper or attorney.
The new report filters allow you to organize data the way you want, and concise summaries give you a clear picture of how different areas of your firm are performing.
Set a discount on matters and it gets automatically applied to a bill when it is generated. Discounts can be set as a percentage of fees, or a fixed amount. The client bill will show the full amount and the discount applied. You can also apply a discount at the time of billing.
Discounts are detailed on productivity reports so you can see an overview of your firm’s discounts.
Quotes and Fee Estimates
Many firms provide clients with a quote for legal services. With Actionstep, you can track this on the matter and get the system to alert you when creating bills, allowing you to adjust the fees if necessary.
You can also display the quoted amount on draft bills to make it easy for the reviewer to see.
Set a minimum retainer replenishment (evergreen retainer) on a matter to help improve cash flow and reduce risk. When the matter is billed, the invoice automatically calculates and displays the remaining balance.
You can also track monies that are deposited into your non-trust bank accounts. Deposits can be associated to matters, and when a bill is created, the funds will be applied automatically against charges. The bill details the receipt and the application of those funds.
Matter-Level Bill Customization
Not all clients are billed the same way, so you should have a system that is flexible enough to allow for custom billing.
Billing options in Actionstep allow you to bill a matter on either an hourly hourly or fixed fee basis. You can specify different hourly rates, use different bill templates and choose if you wish to have a discount on the bill. You can even dictate how fee revenue is to be distributed between lawyers.
Flexible Time Entry
When creating time entries, you can change rates on the fly without creating new categories. You can also specify the entry in hours or a flat-rate dollar amount (e.g. $400 for a court attendance), but still track your time against the flat-rate work.
You can specify whether the fees should appear on the bill and whether they should show as “no charge” or not at all.
Mark Up and Write Offs
Easily mark up or write off charges on the bill. The adjustments increase or decrease outstanding fees, expenses and taxes (if applicable). It can also be used to reallocate fees between different timekeepers.
This allows you to:
- Quickly write off outstanding balances without use of credits
- Track write off of billed fees
- Quickly see which attorney is writing off billed work
Matter Billing Activity View
- Complete view of matter billing history from within the matter
- Create, view, edit, and delete transactions from within the matter
- No need to run firm reports to hunt down information about the matter – everything you need to know about the matter is in one place
Track Revenue by Timekeeper
Easily track fee revenue by timekeeper using different methods, including:
- Pro-rated – each timekeeper is credited for the dollar value of the work they do on the case regardless of what is actually billed. This can include no-charge time and time you track but don’t show on the bill
- Percentage split by fee earner
- Rainmaker fee – allows you to give a flat percentage to the attorney who brought in the case
- All to the responsible attorney